DEARBORN, MI— Gas prices in Michigan are down 6 cents from a week ago. Michigan drivers are now paying an average of $3.03 per gallon for regular unleaded. This price is 14 cents less than this time last month and 1 cent more than this time last year.
Motorists are paying an average of $45 for a full 15-gallon tank of gasoline; a discount of about $12 from 2024's highest price last July.
According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.08 million b/d to 8.30. Meanwhile, total domestic gasoline stocks rose from 245.9 million barrels to 248.9, while gasoline production decreased, averaging 9.2 million barrels daily.
At the close of Wednesday’s formal trading session, WTI fell $1.15 to settle at $72.62 a barrel. The EIA reports that crude oil inventories increased by 3.5 million barrels from the previous week. At 415.1 million barrels, U.S. crude oil inventories are about 6% below the five-year average for this time of year.
"Michigan motorists are seeing lower prices at the pump," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If crude oil prices fall, alongside low demand, gas prices may continue to drop."
Compared to last week, Metro Detroit’s average daily gas price decreased. Metro Detroit’s current average is $3.14 per gallon, about 5 cents less than last week’s average but still 15 cents more than this same time last year.
Click here to view AAA's state and metro gas averages.
- Most expensive gas price averages: Metro Detroit ($3.14), Ann Arbor ($3.12), Marquette ($3.05)
- Least expensive gas price averages: Benton Harbor ($2.89), Grand Rapids ($2.89), Traverse City ($2.92)
